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We will launch a new portal for MSME’s and e-commerce: Nitin Gadkari

Union minister Nitin Gadkari on Thursday said the government's plan to launch Bharatcraft portal, an e-commerce marketing platform, has the potential to achieve revenues of around Rs 10 lakh crore in the 2-3 years."The Bharatcraft portal, which will be on the lines of Alibaba and Amazon, will provide a platform for MSMEs to market and sell their products and in turn boost the sector," Gadkari said.Speaking at 200th listing of an MSME company 'Wonder Fibromats' on NSE EMERGE, Gadkari said, "We want to give a boost to the MSME sector which is currently contributing nearly 29 per cent to the manufacturing segment and 40 per cent to the exports."The MSME sector has the potential to generate additional employment of 5 crore in the next five years. The government has set a target to increase the contribution of MSMEs in the manufacturing sector to 50 per cent in the next five years, he added.

Gadkari eyes Rs 10 lakh crore revenue from e-comm project in 3 years

He said the government will encourage MSMEs to contribute more towards exports, how they could contribute to overall economic growth and also enhance employment potential.

MSMEs to contribute 50% to GDP in next 5 years: Nitin Gadkari

Gadkari added that the sector currently employs about 11 crore people and the government would take this figure to 15 crore in the next 5 years.

MSME Scheme: Helping small businesses scale through Micro & Small Enterprises Cluster Development Programme

The program helps develop MSME clusters which would help individual MSMEs to build and develop their business by reaping the benefits of being a part of an industrial cluster.

Leverage Tata network to expand Walmart’s reach to kiranas; allow Flipkart its grocery play

The executives said Walmart wants to have an Indian partner who is “respected” and “has a voice in policymaking”.

As NBFC crisis lingers on, SBI sews up maiden co-origination pact to lend to MSMEs

SBI has stitched a co-origination pact with the shadow banks to finance small businesses.

Govt panel recommends corporate tax cut to 25% for all companies: Source

India has one of the highest corporate tax rates in the world.

SBI Chairman Rajnish Kumar says 59-minutes loan scheme yet to make a mark

Kumar said the bank is also planning to extend the scheme to car and auto loans because all the loans in this category are in the same quantum.

How Instagram shopping is transforming small and medium businesses in India

Merkle says there’s been a 114% increase in web referrals through IG between Q1 2018 & Q1 2019.

MeitY wants fresh incentives for electronics manufacturers

The proposals include 4-6% interest rate subsidy on loans for new investments among others.

SME-focused Ugro Capital eyes over Rs 1,000 crore loan book by March

SME-focused Ugro Capital eyes over Rs 1,000 crore loan book by March

Ugro began commercial operations this January after buying out the publicly-traded NBFC Chokhani Securities in July 2018.

Amazon India launches Amazon Marketplace Appstore to offer solutions to sellers

Amazon India launches Amazon Marketplace Appstore to offer solutions to sellers

Sellers can access verified third-party applications that complement Amazon’s free tools, helping them streamline and thereby improve efficiency of their business operations

Jio promises internet connectivity to SMBs at 1/10th the cost

Jio promises internet connectivity to SMBs at 1/10th the cost

Reliance Industries chairman Mukesh Ambani said that they had tied up with Microsoft to bring in the Azure Cloud on Jio Network to make connectivity more accessible for the SME sector.

Kirana stores to help Mukesh Ambani challenge Amazon's clout

Kirana stores to help Mukesh Ambani challenge Amazon's clout

As much as 90 per cent of India's $700 billion retail market is unorganised, made up mostly of kirana stores.

Amazon bets on 3rd-party sellers, doubles 2020 India target to $16 billion

Amazon bets on 3rd-party sellers, doubles 2020 India target to $16 billion

The overall volume of sales by these sellers has gone up in the range of 6-10% in the recent past as Amazon-backed sellers have tried to curtail their volumes to comply with FDI rules.

With eyes on skilling, ministry invites applications for NCVET

With eyes on skilling, ministry invites applications for NCVET

Government is of the view that this institutional reform will improve quality as well as enhance market relevance of skill development programme.

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